|
Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOVITA IMPEX PTE. LTD. |
|
|
|
|
Registered Office : |
10, Ubi Crescent, 06-05, Ubi Techpark, 408564 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
04.12.2002 |
|
|
|
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Com. Reg. No.: |
200210489-C |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Subject is engaged in the (as a / as an) manufacturing handbag. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC
OVERVIEW
Singapore has a highly developed and successful free-market
economy. It enjoys a remarkably open and corruption-free environment, stable
prices, and a per capita GDP higher than that of most developed countries. The
economy depends heavily on exports, particularly in consumer electronics,
information technology products, pharmaceuticals, and on a growing financial
services sector. The economy contracted 0.6% in 2009 as a result of the global
financial crisis, but rebounded 15.1% in 2010, on the strength of renewed
exports, before slowing to in 2011-13, largely a result of soft demand for
exports during the second European recession. Over the longer term, the
government hopes to establish a new growth path that focuses on raising
productivity. Singapore has attracted major investments in pharmaceuticals and medical
technology production and will continue efforts to establish Singapore as
Southeast Asia's financial and high-tech hub.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
200210489-C |
|
COMPANY NAME |
: |
NOVITA IMPEX PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
04/12/2002 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
10, UBI CRESCENT, 06-05, UBI TECHPARK, 408564, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
10 UBI CRESCENT, SINGAPORE 408564, 408564, SINGAPORE. |
|
TEL.NO. |
: |
65-68424311 |
|
FAX.NO. |
: |
65-68424322 |
|
CONTACT PERSON |
: |
CHUA MAY LIAN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING HANDBAG |
|
ISSUED AND PAID UP CAPITAL |
: |
130,000.00 ORDINARY SHARE, OF A VALUE OF SGD 130,000.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MATURE |
The Subject is an exempt private company whose shares are not held by
any corporate body and has no more than 20 shareholders who are all natural
persons. An exempt company is a type of private limited company. A private
limited company is a separate legal entity from its shareholders. As a separate
legal entity, the Subject is capable of owning assets, entering into contracts,
suing or be sued by other companies. An exempt private company with an annual
turnover of less than SGD5 million are exempted from statutory auditing
requirements. Instead of filing audited annual accounts, the Subject has to
file in a document duly signed by its director in charge of its finance and the
company secretary stating that the Subject is able to meet all its obligations
as and when they fall due. The Subject is not required to have their accounts
audited. However, the Subject will prepare unaudited accounts for purposes of
AGMs and filing with Registry Office if it is unable to meet all its
obligations as and when they fall due .
The Subject is principally engaged in the (as a / as an) manufacturing
handbag.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
24/11/2014 |
SGD 130,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TAN KHEE MING + |
10, CHUAN LINK, 554707, SINGAPORE. |
S1185145B |
65,000.00 |
50.00 |
|
GRACE CHUA MAY LIAN + |
10, CHUAN LINK, 554707, SINGAPORE. |
S1455145Z |
65,000.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
130,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
TAN KHEE MING |
|
Address |
: |
10, CHUAN LINK, 554707, SINGAPORE. |
|
IC / PP No |
: |
S1185145B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
04/12/2002 |
DIRECTOR 2
|
Name Of Subject |
: |
GRACE CHUA MAY LIAN |
|
Address |
: |
10, CHUAN LINK, 554707, SINGAPORE. |
|
IC / PP No |
: |
S1455145Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
04/12/2002 |
|
1) |
Name of Subject |
: |
CHUA MAY LIAN |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
LEE S F & CO |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
WONG HONG JUAN |
|
|
IC / PP No |
: |
S0007782H |
|
|
|
|
|
|
|
Address |
: |
18, THOMSON WALK, HAPPY PARK, 574465, SINGAPORE. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
EUNICE CHAN HEE NOI |
|
|
IC / PP No |
: |
S1791023Z |
|
|
Address |
: |
230E, TAMPINES STREET, 24, 07-49, 528230, SINGAPORE. |
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose it's suppliers.
|
Local |
: |
N/A |
|||
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|
|
|
|||
|
Overseas |
: |
N/A |
|||
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|
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|
|||
|
Credit Term |
: |
N/A |
|||
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|
|
|
|
|
|
|
Payment Mode |
: |
N/A |
|||
The Subject refused to disclose it's clientele.
|
Products manufactured |
: |
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing handbag.
The Subject refused to disclose it's business operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68424311 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
10 UBI CRESCENT, 06-05 UBITECH PARK (LOBBYA) SINGAPORE |
|
Current Address |
: |
10 UBI CRESCENT, SINGAPORE 408564, 408564, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
|
|
||
|
|
||
Other Investigations
On 25th November 2014 we contacted one of the staff from the Subject and she
provided limited information on the Subject.
The Subject is not aware of the address provided.
The Subject refused to disclose it's number of employees and bankers.
|
The Subject is a private exempt company which does not need to file in
its accounts with the Registrar of Companies for the information of the
public. Therefore, we are not able to comment on the Subject's financial
performance. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : N/A |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The manufacturing sector contracted by 1.1% in the fourth quarter of
2012, led by declines in the electronics and precision engineering clusters.
These clusters were weighed down by weak global demand for semiconductors and
semiconductor-related equipment. For the whole year of 2012, the
manufacturing sector grew by 0.1%, significantly lower than the 7.8% recorded
in 2011 when the sector was boosted by a surge in the growth of the
biomedical manufacturing cluster. |
|
|
|
|
|
Output of the biomedical manufacturing cluster grew by 2.4% in the
fourth quarter. The expansion was driven by the medical technology segment
which grew by a healthy 9.2%, benefitting from robust export demand for
medical devices. The pharmaceuticals segment also grew by a modest 1.1%. For
2012, the biomedical manufacturing cluster expanded by 9.9%. |
|
|
|
|
|
Output of the transport engineering cluster expanded by 4.9% in the
fourth quarter. The aerospace segment grew by 6.2%, supported by higher
demand for repair jobs from commercial airlines. Similarly, the marine &
offshore engineering segment expanded by 5.0%, on the back of higher
contributions from oil rig projects and oilfield equipment components. In the
year 2012, the transport engineering cluster surged by 11%. |
|
|
|
|
|
The output of the precision engineering cluster shrank by 1.3% in the
fourth quarter. The decline was led by the 5.3% contraction in the machinery
& systems segment, which saw weak export demand for semiconductor-related
equipment. On the other hand, the precision modules & components segment
grew by 2.9%, supported by higher production of optical instruments &
photographic equipment and electronic connectors. In 2012, the precision
engineering cluster expanded by 1.3%. |
|
|
|
|
|
The general manufacturing cluster's output grew by 1.2% in the fourth
quarter, driven by the 6.4% growth in the miscellaneous industries segment.
The segment's growth was supported by higher production of batteries and
constructionrelated materials. By contrast, the printing and food, beverages
& tobacco segments declined by 6.4% and 1.3% respectively. For 2012, the
general manufacturing cluster grew by 2.0%. |
|
|
|
|
|
The chemicals cluster's output grew by 7.7% in the fourth quarter. The
petrochemicals and petroleum segments registered growth of 9.3% and 6.3%
respectively, partly due to the low base from plant shutdowns in end of 2011.
The specialty chemicals segment also expanded by 8.0% on the back of higher
regional demand. For the year 2012, the chemicals cluster declined by 0.4%,
primarily due to weak regional demand for specialty chemicals in the second
and third quarter of 2012. |
|
|
|
|
|
Output of the electronics cluster contracted by 10% in the fourth
quarter, led by the semiconductors and computer peripherals segments which
contracted by 13% and 15% respectively. By contrast, the data storage segment
grew by 7.8%, mainly due to the low base in end of 2011 when floods in
Thailand had disrupted the supply chain for data storage products. For the
whole of 2012, the electronics cluster contracted by 11%. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : MATURE |
|
Incorporated in 2002, the Subject is an Exempt Private company, focusing on
manufacturing handbag. Having been in the industry for over a decade, the
Subject has achieved a certain market share and has built up a satisfactory
reputation in the market. It should have received supports from its regular
customers. Being a small company with an issued and a paid up capital of SGD
130,000 contributed from individual shareholders, the Subject does not have
strong shareholders' backing. Without a strong backing, the Subject may face
difficulties in its attempt to further expand its business in the future.
Overall, we regard that the Subject's management capability is average. This
indicates that the Subject has greater potential to improve its business
performance and raising income for the Subject.
As the Subject is registered as an Exempt Private company, it is not required
to file financial statements for public review. As such, we are unable to
ascertain its present financial health.
The industry has reached its optimum level and is generally stable. It is
saturated and very competitive. Thus, the Subject's growth prospect is very
much depends on its capacity in sustaining its performance in the market.
Based on the above unfavourable condition, we regard granting credit to the
Subject to be quite risky. Hence, credit is not recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.97.12 |
|
Euro |
1 |
Rs.76.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors
are apparent. Repayment of interest and principal sums in default or expected
to be in default upon maturity |
Limited with full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.